COVID-19 Pandemic Prompts Massive Purchase of Travel Insurance

The tourism sector has been one of the most hit industries because of the COVID-19 pandemic. COVID-19 has transformed the world of travel amid the cancellation of a lot of flights and closed borders. Some nations have started re-opening and relaxing the COVID-19 restrictions despite the threat of multiple variants of the ever mutating virus. Luckily, some travel insurances in the Philippines have been offering travel insurances as domestic traveling and short-haul demand are becoming more popular.

What is your next dream destination?

A lot of people are confined in their homes but are starting to dream of their sought after destinations in the next year. Numerous countries still experience lockdown caused by the pandemic of COVID-19 disease. This means that traveling is still hard to perform and a lot of borders are closed or only people with essential reasons can pass through. From now on, traveling will change to a new normal with new safety rules. Besides this, people who for the last year didn’t travel but wanted to do more, started thinking about the reasons. Can you answer why you travel?

In line with that, a massive amount of travel insurances are purchased by travelers as a way to safeguard them in their future travel. The goal of the travel insurance is to protect yourself from unforeseen accidents when you travel anywhere in the world. It also provides compensation for accidental death, dismemberment, or disablement as well as accidental burial benefit.

If in any case that you became sick in one of your activities during your travel, your travel insurance can provide for the emergency medical treatment you might need. Coverage also extends to follow-up care, as well as the daily incidental expenses involved in hospital confinement. On the other hand, if your trip was cut short sooner than you had planned, your insurance can reimburse the unused portion of travel and the non-refundable accommodation expenses that have been paid in advance.

There are numerous insurance companies in the Philippines that offers this kind of travel insurance like Malayan. Recent study showed that customers are booking on much shorter lead-times than previously where 80% of bookings in the new normal are within a fortnight of departure, as opposed to 30-60 days before departure in pre-Covid-19 times. Majority of those surveyed reported that free cancellation, flexible presale bookings and insurance coverage were the most important factors when booking travel nowadays. With that said, travel insurance’s popularity increased massively as it also became a prerequisite as entry requirement in some major cities.

What are your essentials during travel?

Vaccination also plays a key role in the re-emergence of essential travel. All foreign nationals arriving in the destination country will be required to show proof of being fully vaccinated, along with a negative COVID-19 test. Travelers who have received a COVID-19 vaccine must still show proof of a negative COVID-19 test. If a passenger has already had COVID-19, they must present documentation of recovery. Quarantine on “bubbles” can be optional depending on their law.

The traveling and tourism landscape have definitely changed and it keeps evolving with the simultaneous updates in entry restrictions varying in different key cities. One thing is for sure, travel insurance is here to stay and will be a very vital requirement in the next few years to come.

Would you travel in the next few months? Have you already considered getting a travel insurance?

39 thoughts on “COVID-19 Pandemic Prompts Massive Purchase of Travel Insurance”

  1. What a very informative post! I have been considering traveling during this time. I might get a travel insurance soon.

  2. I’ll think about getting a travel insurance. It’s very important nowadays as it protects you from any unforeseen experiences. Thanks!

  3. I haven’t thought about getting a travel insurance. I’ll read more about it as I haven’t really considered traveling yet. Maybe next year?

  4. I’ve found this totally true, I actually just moved abroad to France and I purchased travel insurance to cover my trip after previously never having purchased it. it was costly but worth the piece of mind.

  5. Great post! I have actually dealt with this over the last week. We went to Mexico so we got travel insurance because they told us if we tested positive for COVID, we would have to stay in Mexico at the resort until we had negative tests. That would have been expensive!

    We just had to make sure the policy we got covered COVID causes because they all didn’t.

    Thanks for sharing!

  6. My family has not stopped traveling, but we have stayed within the US. We had a cruise planned for February of this year but that was obviously canceled. That was the first time I had ever purchased travel insurance, mostly because it was the first time we would travel internationally after having kids. I’m happy to say we have still seen so many things, but my family likes the outdoors when we travel so we are hiking and going to parks on our vacations.

  7. Even before the pandemic, I always get travel insurance coz it is a safeguard for me in case something’s happened. Much more nowadays, travel insurance is a must.

  8. Travel insurance is more important now than at any time other. There are really so many factors in play that could mess up a trip right now.

  9. I must say that I’ve always made sure to have good travel insurance. I had to cancel trips and even had a really bad accident abroad and the insurance brought me back home 🙂

  10. Oh.. I honestly haven’t heard about travel insurancr before and i think i should really look into this. I think having it is very practical and ideal especially that we are on a global pandemic
    Thank you for sharing

  11. For me, it is so important to get travel insurance, most especially today that we are facing a worldwide pandemic. Right now, it is an essential purchase.

  12. We are hopefully going on our first overseas holidays this weekend for a week and have definitely purchased travel insurance. I would never be without it during these times.

  13. Good to know that travel insurance is supporting and offering travel insurance for domestic travels. This encourages people to go local which supports tourism

  14. There is so much great information here. I’ve always used travel insurance, but I didn’t know that it could be used for some of these things.

  15. Wow a travel insurance sounds nice right now, since I am planning to travel next week. Thats great info here in this post.

  16. For sure that travelers will even need more travel insurance after Covid-19 since the health impacts from the virus are high.
    Thanks for sharing the informative post! Travel insurance is really important to travelers.

  17. I wish I had purchased it for my London trip! Luckily I got most of money refunded, but I did loss about $600. I assure you, that will never happen again! =)

  18. I am absolutely part of the group that is now purchasing travel insurance but never did before. I have actually purchased it about six times in the last six months.

  19. I’ve considered the idea, yes but I am still skeptical about the whole thing of being a crowded space or area! I definitely would consider travel insurance. One can’t be totally sure about what could happen, huh!

  20. I’m not quite ready to travel yet with my family. However, when I do get back to travel I will definitely be getting travel insurance.

  21. Travel insurance sounds absolutely amazing! This is a really good news. This is so important!

  22. Now that restrictions has relaxed for sure there tourism will get back on its feet. It’s just wise to get a travel insurance if you really want to travel, you’ll have peace of mind for sure. Better yet, just stay at home.

  23. It is always good to ensure that you have travel insurance as preparedness is everything to me. Thank you for this informative post 😉

  24. I’ve never considered purchasing insurance when travelling but I think, it’s getting important especially these days. Thanks for the enlightening article!

  25. Always thought travel insurance was a waste of money. Funny how times change now I won’t leave home without it

  26. This is definitely something that is more common. I had a friend that had a vacation planned before the pandemic and spent 5k on an AirBnb, but had to cancel because there was no way to get there when covid hit. They only got half of the money back. We are traveling to Mexico and are making sure that everything is refundable.

  27. I totally agree with you. I believe it is very important to have travel insurance. We’ll never know what will happen and getting sick abroad is just so expensive. This is something that is nice to have

Comments are closed.